U.S. Treasury Warns Cyber Insurers Payments To Hackers May Violate Sanctions

As reported by Reuters, cyber insurers and other financial institutions that facilitate payments to hackers to end cyberattacks risk running afoul of sanctions rules, the U.S. Treasury Department warned on Thursday.

The warnings, which referenced malicious programs known as ransomware, came in advisories from Treasury’s Office of Foreign Assets Control (OFAC)and Financial Crimes Enforcement Network (FinCEN).